Document background
The Cooperation Framework Agreement serves as a master agreement for establishing business relationships in Saudi Arabia, providing a structured approach to collaboration while ensuring compliance with local laws and Sharia principles. This document is particularly relevant in the context of Saudi Arabia's Vision 2030, where increased business cooperation and foreign investment are encouraged. It is typically used when parties wish to establish a long-term collaborative relationship but need flexibility in defining specific projects or initiatives. The agreement includes essential provisions required under Saudi law while allowing for future detailed agreements to be developed within its framework. It's especially useful for complex business relationships where multiple projects or initiatives may be undertaken over time, providing a consistent legal foundation while maintaining adaptability for specific requirements.
